Montreal-based Exploration Orbite has raised $57.5 million through a recently completed bought deal. Most of the net proceeds will be used to convert the company's Cap-Chat pilot plant into a commercial facility producing ultra-pure alumina.
Orbite's major holding is its Grande Vallee property in the Gaspe region, 32 km northeast of Murdochville. The property has an identified aluminous clay deposit that grades 23% alumina. It will be mined by open pit methods.
The clay is to be processed at Cap-Chat. The commercial plant will be a 7,000-t/d smelting grade facility using Orbite's patented technology. The company hopes to build a series of these plants that will cut alumina imports for the province's aluminum smelters.
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